Short road to immense profits
We understand the concept of the housing bubble very well: sell houses at inflated prices, launch the bubble, and you end up owning the houses AND you still have people who owe you money for those houses they do not have. You can sell the houses later when the market recovers (and the people will still be paying on the houses they do not have). In the meantime, while the FED interest rate is at zero, borrow even more money so you can lend it back to people later at a nice high rate. Read more…
Moody’s drops Malema
The day after credit rating agency Moody’s downgraded South Africa to negative from stable the ANC Youth League’s corrupt leader Julius Malema is suspended. Moody’s cited South Africa’s political risk.
The South African Rand took a heavy knock on the Moody’s downgrade and it obviously became clear to the ruling ANC party that the problem for the political risk had to be removed. Read more…
Osama 0 : Obama 1
Barack Obama got a 9 point poll boost on the news that Osama bin Laden has been shot dead on May 1 in Abbottabad, Pakistan by Seal Team Six of the US Navy Seals. Osama 0 : Obama 1.
Half the world considers it an amazing feat because … half the world had thought that Osama is dead already. But they too can now celebrate the “Obama got Osama” occasion with special commemorative T-shirts, ties, mugs, buttons, etc. Bin Laden Dead gifts are selling like hot cakes.
The name of the Seal who shot Osama in the head (reportedly above the left eye) and chest is… well, nobody knows. The US Navy Seals is a highly secretive unit with about 2 500 members – chosen from the 8 500 hardy men that serve in the Naval Special Warfare Command – and they’re not exactly the kind that will be walking the streets with placards naming the hero of their finest hour. Read more…
Live TV debate UK politics
The second live television debate by the leaders of three leading UK political parties turned out even more interesting than most US presidential TV debates. The UK debate format is more free in flow, thus appears less rehearsed and with less closing theatrics.
In the first debate (April 15), Nick Clegg of the Liberal Democratic Party beat the pants off David Cameron (Conservative Party) and Prime Minister Gordon Brown (Labour Party) by a country mile. The second debate (April 22) was a closer call, with initial newspaper polls giving Clegg the thumbs up but putting Brown strong on detail. The independent YouGov poll declared Cameron the winner, much to media’s surprise, as I could tell from their live blogging. Read more…
Tempest in a coffeepot
There just absolutely, definitely and ultimately had to be an alternative to the Tea Party Patriots. Obviously it had to be a Coffee Party. What else? The Milkshake Makeovers? The Ginseng Gang? The Cucumber Club? Alas, any organization with serious intentions should be able to trace its name – and its cause – back to roots in history. Like the Kit Kat Club, the Knickerbockers, or any other hetaireiai, for that matter.
Aha! You say. But what roots did those clubs have? They were originators. And that, of course, is the root of the issue. It does not matter what a club or organization wants to call itself, here is one situation in life where the cause will be judged not by its actions but by its results… or it could be just another Ancient Order of Froth Blowers – rather sociable but not quite influential. Read more…
Three sugars please
It’s easy to find the flavor of the national Tea Party movement. And if you can’t stomach it, add some sugar because it looks like they’ll be stirring up the political scene for some time to come. If you doubt it, look what happened last time. Then, as now, in essence it was much about the misuse of public money (commonly referred to as tax). And this time, too, the teabaggers – as they are known – are calling for a revolution.
The first recorded revolution in history, at around 2800 BC, took place when people from the Sumerian city of Lagash overthrew bureaucrats who also were lining their own pockets and those of their friends but kept raising taxes. The reason for revolution has not changed much. Read more…
Obama makes 1 billion new friends in 8 minutes
“If these folks want a fight, it’s a fight I’m ready to have,” Obama said today when he announced new proposals to curb the recklessness of the bankers. In a speech that lasted only 8 minutes, Obama probably made one billion new friends worldwide. Admittedly, they are mostly poor friends… but their little cross on a voting form is worth just as much as anyone else’s.
“You show people what you’re willing to fight for when you fight your friends,” I quoted Hillary Clinton just yesterday. Well, the proof is in the eating. As for Obama’s (now ex) buddies: we’ll have our cake – let them eat crack. Read more…
